THE Russian President is said to be worth a staggering £140billion making him the richest man in the world – and twice the worth of Microsoft founder Bill Gates.

As Putin's finances are thrust into the spotlight with allegations of corruption emerging yesterday, one hedge fund manager claims Mr Putin has spent his fortune on property and hedge funds.

Speaking on CNN, Bill Browder, a former fund manager in Russia who has written a book about financial crime in Russia, said: “I believe that [Putin is worth] $200bn.

"After 14 years in power of Russia, and the amount of money that the country has made, and the amount of money that hasn't been spent on schools and roads and hospitals and so on, all that money is in property, Swiss bank accounts, shares, hedge funds, managed for Putin and his cronies.”

If true, that makes Putin the richest man in the world with a fortune twice the size of Microsoft founder Bill Gates.

The revelation will come as a shock to many but long-time critics of Mr Putin have regularly claimed he is a billionaire.

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Mr Putin dismissed claims of extreme wealth and in 2014 claimed he took home a state salary of £83,000.

The highly-secretive former KGB boss has offered occasional glimpses into his wealth, working out in a £3,000 cashmere tracksuit and boasting a collection of designer watches.

A BBC Panorama investigation this week lifted the lid on Mr Putin's finances with claims he owns a billion dollar palace on the Black Sea coast, has stakes in massive oil and gas companies and was gifted a £25million yacht from Chelsea owner Roman Abramovich.

AFP

Bill Browder claims Mr Putin is worth $200bn

He has a level of living that is far in excess of anything anyone in the West would have, even the richest

Karen Dawisha

Karen Dawisha, author of Putin's Kleptocracy, said: "He has a level of living that is far in excess of anything anyone in the West would have, even the richest.

"It's that kind of level that we see from Saudi princes."

"The beauty of the system its organised and run according to the old adage, for my friends everything, for my enemies the law."

Stanislav Belkovsky, a Russian political analyst, first claimed in 2007 that Putin "controlled" 37 percent of oil company Surgutneftegaz and 4.5 percent of natural gas company Gazprom.

Speaking to Panorama he said: "I've got this information from confidential sources. [He has] $40bn (£28bn) in assets not cash of course. I'm still sure Putin is the richest man in Europe and one of the richest men in the world."

GETTY

Mr Putin in his £3,000 cashmere tracksuit

AFP

Mr Putin and Chelsea owner Roman Abramovich

pehoushek.com

Mr Putin was allegedly given a £25million yacht as a gift

Mr Putin repeatedly dismissed claims he is super-rich.

In February 2008 he said: "Its simply rubbish. they just picked out all out of someones nose and smeared it across their little papers."

Despite his denial, a secret CIA report agrees with the $40bn (£28bn) figure, according to Panorama.

Adam Szubin, from the U.S. treasury said: "I'm not in a position to give you figures but what I can say is he supposedly draws a state salary of something like $110,000 (£77,000) a year, that's not an accurate statement of the man's wealth. He has long time training and tactics in terms of how to mask his actual wealth.

"We've seen him enriching his friends, his close allies and marginalising those he doesn't view as friends using state assets wether that's Russia's energy wealth or other state contracts he directs those to whom he believes will serve him and excludes those who don't."

Vladimir Putin in pictures

Thu, November 24, 2016

Russin President Vladimir Putin in pictures

Raised in poverty in one room in a tower block in St Petersburg with no hot water and a shared kitchen in a corridor, Mr Putin has labelled the corruption claims a smear campaign over the murder of former spy Alexander Litvinenko.

A British investigation concluded Mr Putin "probably" ordered the killing of Mr Litvineko who died from Polonium 210 poisoning.